Michaels 26752 Portola Parkway, Lake Forest, CA Cap Rate 6% Lake Forest (Dollar Point, California, US ) Built

$5,250,000 USD

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 25,000 sq. ft.
  • Development Level: Built
  • Lot Size: 2.63 acres


Michaels 26752 Portola Parkway, Lake Forest, CA Cap Rate 6%

Cap Rate: 6%
NOI: $314,875
Building Size: 25,000 sqft
Lot Area: 2.63 acres
Lease Type: Double Net
Tenancy: Single
Lease Expire Year: 08/31/2024

Single-Tenant Corporate Guaranteed Michaels:
-Michaels recently executed their second option and currently have over 3.5 years remaining on -their lease
-Below market rent at only $12.59 PSF/Year
-Long-term operating history of more than 17 years, demonstrating the strength of the location
-Brand new roof and HVAC installed at the end of 2019
-Three 5-year options remain with $1.00/SF/Yr increases at the beginning of each option
-The Michaels Companies Inc. (NASDAQ: MIK) is the largest arts and crafts retail chain in North America with about 1,250 locations and 2019 fiscal year sales in excess of $5.07B
-Michaels delivered strong Q3 2020 results with comparable store sales growth of 16.3% - Michaels stock increased more than 1100% from March 2020 to December 2020
Trophy South Orange County Location - Adjacent to Target: Neighboring tenants include Target, Walmart Supercenter, Hobby Lobby, Ralphs, At Home, Planet Fitness, PetSmart, CVS, In-N-Out, Raising Canes, and more
Extremely Affluent Demographics: Over $150,000 average household income in a 1-mile radius with a projected population growth of more than 31% in the next 5 years
Signalized Hard Corner Intersection: The center is located at the signalized intersection of Portola Parkway and Bake Parkway with a combined 40,100 cars per day
Strong Residential Growth: In the surrounding area, there are more than 12,700 housing units that are either in development or have recently been developed across 1,900 acres
Strong Daytime Population: Over 12 million square feet of industrial/office space and a daytime population exceeding 41,400 people in a 2-mile radius.

For more information:
Javier Tamez Martínez.
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.


Information is deemed to be correct but not guaranteed.